The Fidelity MSCI Industrials Index ETF (FIDU) is designed to track the performance of the industrial sector in the US equity market. To achieve this, the fund invests at least 80% of its assets in securities that are part of its underlying index, the MSCI USA IMI Industrials 25/25 Index.
The MSCI USA IMI Industrials 25/25 Index is a market-capitalization-weighted index that aims to capture the performance of the industrial sector in the US stock market. The index is designed to provide a comprehensive representation of the industrial sector, which includes companies involved in industries such as aerospace, defense, construction, and transportation, among others.
While the fund may not hold all the securities in the MSCI USA IMI Industrials 25/25 Index, it is designed to provide investors with exposure to the industrial sector in the US equity market. This can be beneficial for investors seeking to diversify their portfolios and gain exposure to a specific sector.
The fund is domiciled in the United States and is managed by Fidelity, a well-established financial services company. You can find more information about the fund and its management on Fidelity's institutional website.